(Reuters) - Morgan Stanley ( MS ) has struck a deal with an investor group to buy $700 million of property loans tied to the failed Signature Bank ( SBNY ), Bloomberg News reported on Wednesday citing people familiar with the matter.

The loans were held by a cohort including asset management giant Blackstone, Canada Pension Plan Investment Board (CPPIB) and investment manager Rialto Capital.

The group owns a 20% stake in a venture that holds Signature Bank's ( SBNY ) commercial real estate loan portfolio.

Spokespeople for Morgan Stanley ( MS ), Blackstone and CPPIB did not immediately respond to Reuters' requests for comment.